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AML resources

Listing

Published: 17 Mar 2020 Updated: 01 Oct 2021 Update History

There is a wide range of useful resources available for our AML supervised firms.

AML - the essentials

Keep up-to-date on the key changes in the money laundering regime and receive guidance that will help inform your risk assessment, policies and procedures.

Webinars

  • Coming up: SARs – regional events
    Join Khuram Javed from the National Crime Agency and ICAEW's Sandy Price from the AML supervisory team for a unique opportunity to learn about SARs. Including red flags to look out for, plus case studies and a live Q&A.
  • AMLbites
    Providing you with the basics on popular money laundering topics. Each video lasts around 10 minutes and is freely available for all to view. These videos are aimed at money laundering reporting officers, compliance principals and people in regulatory roles. These could also be used as a training tool for your staff.
  • Suspicious Activity Reports and the accountancy sector
    Michelle Giddings, ICAEW Professional Standards' Head of AML discusses common questions around SARs with Angela Foyle, Partner at BDO, Angela is chair of the Economic Crime Sub-Committee at ICAEW and Chair of the AML Committee of Accountancy Europe. She also held the MLRO role at BDO.
  • DAMLs and Tipping Off
    Find out when to submit a Defence Against Money Laundering and what constitutes Tipping Off.
  • Coming up: Client Due Diligence
    Learn about the key elements of CDD, what your obligations are and have your questions answered in our upcoming live webinar.

Guidance

Articles

  • Back to the office: seize the opportunity to refresh your AML culture
    The return to office-based working offers the ideal opportunity for MLROs to reflect on changes to the risk landscape over the past 18 months, check their firms’ AML policies and procedures remain fit for purpose, and refresh staff training.
  • SARs reporting: emerging threats
    In the rapidly changing landscape of economic crime, new risks are emerging all the time. In the second part of our interview with Martin Cox of the UK Financial Intelligence Unit (UKFIU), we talk about COVID-19, Fintech, cryptoassets and human trafficking.
  • The MLRO in practice: uncovering economic crime
    Being a money laundering reporting officer (MLRO) is about much more than meeting regulatory requirements. We talk to some experienced MLROs and their deputies about what it takes to succeed in the role, how they make a difference, and being brave.
  • The role of the MLRO: beyond compliance
    Taking on the role of money laundering reporting officer can be daunting, and it isn’t always clear what’s required of you. We talk to ICAEW’s anti-money laundering supervisory team about the legislative background to the role, the importance of an open culture, and the sometimes unexpected skills you’ll need to do the job effectively.
  • SARs: making a difference
    Submitting a suspicious activity report (SAR) is much more than a routine compliance obligation. We talk to Martin Cox, Head of Engagement, Communications and Risk Management, UK Financial Intelligence Unit (UKFIU), about the critical role ICAEW firms and members play in piecing together information that can protect vulnerable people and bring criminals to justice.
  • Follow the money: How to combat money laundering
    Firms need to be alert to the constantly shifting threat of money laundering, says Caroline Biebuyck.
  • Take professional scepticism to the next level, Met Police forensic accountant urges
    Joanna Bliault, a forensic accountant at the Metropolitan Police, urges accountants to take their professional scepticism to the next level and act on the most common red flags she has encountered in the line of duty.
  • Understanding money laundering risks
    A shared understanding between law enforcement, supervisory bodies and firms of money laundering and terrorist financing risks is crucial to ensuring firms recognise when they are at risk of being used to facilitate money laundering.
  • ICAEW takes the chair at the AML Supervisors Forum
    ICAEW continues to be at the forefront of Anti Money Laundering (AML) supervision and now, throughout 2021, ICAEW’s Michelle Giddings, Head of AML, has been elected as Chair of the AML Supervisors Forum, set up by HM Treasury under the 2007 Money Laundering Regulations.
  • How we cracked down on money laundering from home
    Michelle Giddings, chair of the 2021 AML Supervisors Forum, outlines the measures ICAEW has taken to tackle anti-money laundering compliance during lockdown

Reports

  • 2020 AML monitoring report
    Prepared by ICAEW's quality assurance reviewers, this report covers the key issues identified from anti-money laundering reviews carried out in the last 12 months. It aims to help firms understand how to avoid these issues and discusses our upcoming areas of focus.
    If you prefer to listen to the results of our 2020 anti-money laundering monitoring, you can do so via our recorded webinar.